In July 2016 ASIC (the Australian Securities and Investments Commission) published a report of the key findings of its review into the due diligence practices undertaken by issuers as part of their initial public offerings, and ASIC’s findings make for particularly interesting reading.

‘Due diligence’ is the name given to the process undertaken to identify and confirm the material information in respect of an issuer that is required to be disclosed in the offer documents prepared in connection with an IPO. While the process itself is not statutorily... Read more

In February 2015, NZX/ASX listed Nuplex Industries announced that it had entered into an agreement to be taken over by Allnex Belgium by way of a scheme of arrangement. Nuplex shareholders approved the scheme on 7 July 2016. The last remaining condition to the scheme proceeding is European anti-trust approval. This is expected to be obtained in early August 2016, which would allow the scheme to be implemented and the takeover completed in mid to late August 2016.

The Nuplex/Allnex scheme is likely to be a watershed moment for public takeovers in New... Read more